U.S. SEC investigates India's Infosys on whistleblower complaints

The Infosys logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren - Copyright CHRIS HELGREN(Reuters)

By Reuters

Published on 24/10/2019 - 06:04•Updated 19/04/2024 - 07:19

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BENGALURU (Reuters) - Infosys Ltd <INFY.NS> said on Thursday that the U.S. Securities and Exchange Commission had launched an investigation into whistleblower claims that the Indian software services firm used 'unethical practices' to boost revenue and profit.

The company said India's market regulator, the Securities and Exchange Board of India, had also requested additional information from the company concerning the complaints.

A securities class action lawsuit has also been filed against the company in a U.S. federal court based on the complaints, the company said, adding that it intends to defend itself "vigorously".

(Reporting by Chris Thomas in Bengaluru)

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